The horse was the easiest modern-day winner of the Epsom Derby. His five victories that season included the Irish Derby and Ascot's prestige King George VI and Queen Elizabeth Stakes.

He seemed unbeatable - until the St Leger, when he trailed in fourth after starting a hot favourite.

Shergar was voted European Racehorse of the Year, but he never raced again and was retired to stud.

Jockey Walter Swinburn, who rode Shergar in most of his races, was in India yesterday and had not been told about the horse's disappearance.

Getty

Walter Swinburn and Shergar made a formidable partnership

The syndicate who stand to lose so much

Mirror report on 10 February 1983

Shergar became a father for the first time a week ago when a bay colt [pictured top left on the newspaper page above] who looks remarkably like him was born at the Irish stud.

More are on the way. Shergar, scheduled to cover up to 55 mares a year, has put 42 of his first 44 mares in foal.

He was bred by the Aga Khan and sold for £10 million to an international syndicate when he was retired from racing.

The Aga could have got much more if he had sold Shergar to America. But he wanted his champion to stand at his Irish stud.

He is the majority shareholder in the syndicate, which also includes trainer Vincent O'Brien and leading owner Robert Sangster.

Shergar is insured for nearly £4 million, only a fraction of his value.

Members of the 34-share syndicate could face huge losses if he is damaged.

It was left to each member to insure his own share.

Lawyer Owen Tebbs, who organised the syndicate for the Aga, said: "It is quite likely many have not taken out insurance. It is also unlikely that any provision was made for kidnapping in other insurance for the horse."

Shergar has vanished before, but only briefly. In June 1981 he threw his stable lad and bolted during a workout at Newmarket.